Creating value for Canadians

CDEV advances economic prosperity for Canada by delivering financial and commercial expertise that government relies on.

About CDEV

A unique Crown corporation

Our commercial expertise and skill set is unique within the federal government. Our experts have extensive private and public sector backgrounds, including investment banking, asset management, financial services, consulting, legal and mergers and acquisitions, driven by our values and a shared purpose to help build a stronger, more prosperous Canada.


Headquartered in Toronto, with an office in Ottawa and teams in portfolio companies across the country, CDEV has a small, high-performing team, a highly efficient operating model, and an independent board of directors accountable to Parliament through the Minister of Finance. 
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Our Mission

Advance economic prosperity for Canada through delivering financial and commercial expertise as the trusted advisor and active asset manager to government.

Our Values

Integrity
We build trust by doing what is right, always. 
Excellence
We push for the highest standards to deliver outstanding outcomes. 
Accountability
We take ownership, hold each other to account, and are empowered to deliver on our commitments.  
Agility
We adapt quickly, leveraging our diverse skills and capabilities to execute at the speed of business.  
Collaboration
We work as one team, to achieve more together.  
Growth Mindset
We stay curious, creative, and committed to continuous improvement. 

Meet the Team

Executive Leadership Team

Meet the leaders who are helping to drive our business forward.

Elizabeth Wademan 

President and Chief Executive Officer

Carlos Gallardo

Chief Financial Officer

Andrew Akers

Chief Administrative Officer

Russ Wenman

Executive Vice President and Group Head, Execution and Advisory

Thomas Chanzy

Vice President and Head, Communications and Public Affairs

Louise Youdale

Vice President, People and Culture

Sébastien Labelle

Vice President

Tess Lofsky

Executive Vice President, General Counsel and Corporate Secretary

Board of Directors

Our independent Board of Directors provides governance, strategic guidance and deep financial and business expertise.

Dwight Ball

Board Chair

Jennifer Reynolds

Chair of the Human Resources and Compensation Committee

Alicia Damley 

Chair of the Audit Committee

Sandra Rosch

Chair of the Nominating and Governance Committee

Sean W. Strickland

Director

Elizabeth Wademan 

President and Chief Executive Officer

Our History

Impact over decades

1982

Began overseeing federal financial portfolios under the Minister of Finance. 

1985-1995

Oversaw a multitude of assets to manage and prepare for divestments including Canadair, De Havilland Aircraft of Canada, Teleglobe Canada, and Massey Fergusson Ltd.

2007

Expanded our role to serve the Government of Canada’s commercial interests. 

2011

Negotiated the sale of government shares in Chrysler to Fiat.

2015

Fully divested the federal government’s stake in General Motors.

2018

Added Trans Mountain Corporation, operator of the Trans Mountain Pipeline, to the CDEV portfolio.

2019

Arranged a first-of-its-kind 10% equity transfer to local First Nations during the Ridley Terminals sale.

2020

Designed the COVID-19 loan program for large businesses through the Canada Enterprise Emergency Funding Corporation.

2022

Created the $15-billion Canada Growth Fund to encourage private investment toward net zero.

2024

Structured and oversaw $2.14-billion loan with Telesat to support Canada’s largest space program.

2024

Exited the federal government’s Air Canada share position, realizing proceeds of $544 million.

2025

Increased Indigenous Loan Guarantee Program to $10 billion and opened to all sectors except gaming.

2025

Established the $10-billion Large Enterprise Tariff Loan (LETL) facility to support large businesses facing trade uncertainty.

2025

Issued the first Indigenous loan guarantee: $400 million to 38 First Nations for a 12.5% stake in Enbridge’s Westcoast natural gas pipeline system.

2025

Provided the first loan under LETL: $400 million to Algoma Steel Inc., to help stabilize a major Canadian player in the competitive global steel industry, amid tensions in the global steel trade.